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Why not much can stop Cardano’s downtrend now
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It has been a while since Cardano’s price rallied. Way back in September, it peaked at $3.101. Post that, however, things have only gone downhill for this altcoin.
Towards mid-September, ADA’s price entered a symmetrical triangle on the charts. And, by mid-October, it broke below the lower support line to continue its extended downtrend.
After briefly consolidating and then registering a couple of long green candles, ADA once again conceded to the aforementioned narrative by stepping into a descending channel. In fact, at press time, it remained encapsulated within the same structure on the charts.
ADA/USDT || Source: TradingView
Well, in September, when Cardano rallied to $3, the entire market was consolidating and experiencing the ‘blues.’
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